EventShares U.S. Legislative Opportunities ETF
ALTAR
Score™
4.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
26.6x P/Sales
ratio
0.9x
P/BV
ratio
1.9x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
PLCY seeks to provide exposure towards companies that are impacted by government policies, such as tariffs, reforms, and legislative bills.

FUND BASICS
Category US Equities
Fund Sponsor Active Weighting Advisors
Website www.eventshares.com
Inception date Oct 17, 2017
Assets (mns) $22
Currency USD
Expense ratio 75 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 113
Wgt avg mkt cap (mns) $11,092
Large cap (>$10bn) 32.3%
Mid cap ($2-10bn) 39.8%
Small cap (<$2bn) 27.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AVALARA INC 3.7 %
CAMECO CORP 3.0 %
TYLER TECHNOLOGIES INC 2.8 %
AXON ENTERPRISE INC 2.1 %
PAYCHEX INC 1.7 %
SAIC INC 1.6 %
PACIRA PHARMACEUTICALS INC 1.6 %
EASTERLY GOVERNMENT PROPERTIES, IN 1.6 %
TELADOC INC 1.4 %
TERRAFORM POWER, INC. CLASS A 1.4 %
Total 21.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 85.4 %
CANADA 3.1 %
ISRAEL 1.3 %
BERMUDA 1.2 %
SWEDEN 1.2 %
FINLAND 1.2 %
MONACO 1.0 %
BRITAIN 0.8 %
GREECE 0.6 %
IRELAND 0.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-10.7% 1.0% -- -- 1.1%

Market Correlations
versus... Beta R-squared
S&P500 1.07 93%
MSCI EAFE 1.11 82%
MSCI Emg. Mkts. 0.86 74%

Technical Indicators
Recent close $22.10
30d moving avg. $20.96
Annualized volatility 22.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.8%
Bid/Ask (% of price) 0.58%
ADV underlying (mns) $13,244

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the EventShares U.S. Legislative Opportunities ETF ETF based on the alternatives' overlap in portfolio holdings with PLCY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PLCY Expense: 75 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PLCY
Ticker Fund
Name
Overlap1
vs PLCY
(%)
Expense
ratio
(bp)
Savings
vs PLCY
(bp)
ALTAR
Score™
(%)
ALTAR
vs PLCY
(%)
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 14.6 39 36 6.7 +2.6
FITE SPDR Kensho Future Security ETF 12.6 45 30 4.1 -0.0
PPA Invesco Aerospace & Defense ETF 12.0 59 16 6.4 +2.2
RFG Invesco S&P Midcap 400 Pure Growth ETF 10.4 35 40 4.1 -0.0
JKK iShares Morningstar Small-Cap Growth ETF 9.9 30 45 1.5 -2.7
JHMI John Hancock Multifactor Industrials ETF 9.8 40 35 6.7 +2.5
PDP Invesco DWA Momentum ETF 9.3 62 13 2.9 -1.2
FNY First Trust Mid Cap Growth AlphaDEX Fund 9.2 70 5 2.2 -1.9
HACK ETFMG Prime Cyber Security ETF 8.8 60 15 3.2 -1.0
XAR SPDR S&P Aerospace & Defense ETF 8.7 35 40 5.5 +1.4
CIBR First Trust NASDAQ CEA Cybersecurity ETF 8.5 60 15 3.2 -0.9
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 8.4 7 68 6.0 +1.9
FIVG Defiance Next Gen Connectivity ETF 8.4 30 45 4.6 +0.5
FAD First Trust Multi Cap Growth AlphaDEX Fund 8.1 66 9 2.8 -1.4
KOMP SPDR Kensho New Economies Composite ETF 8.1 20 55 1.8 -2.3
VFMO Vanguard U.S. Momentum Factor ETF 8.1 13 62 2.2 -2.0
ITA iShares U.S. Aerospace & Defense ETF 8.0 42 33 7.6 +3.5
FNX First Trust Mid Cap Core AlphaDEX Fund 7.8 61 14 7.5 +3.3
PVAL Principal Contrarian Value Index ETF 7.8 29 46 8.2 +4.0
IHAK iShares Cybersecurity & Tech ETF 7.7 47 28 3.8 -0.3
MDYG SPDR S&P 400 Mid Cap Growth ETF 7.7 15 60 5.1 +1.0
IWO iShares Russell 2000 Growth ETF 7.7 24 51 0.9 -3.2
IJK iShares S&P Mid-Cap 400 Growth ETF 7.7 24 51 5.0 +0.9
AIRR First Trust RBA American Industrial Renaissance ETF 7.6 70 5 8.1 +3.9
IWP iShares Russell Mid-Cap Growth ETF 7.6 24 51 4.5 +0.4
FTC First Trust Large Cap Growth AlphaDEX Fund 7.6 61 14 3.2 -1.0
RWK Invesco S&P MidCap 400 Revenue ETF 7.6 39 36 8.4 +4.2
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 7.5 15 60 5.1 +0.9
XSW SPDR S&P Software & Services ETF 7.5 35 40 3.7 -0.4
AFMC First Trust Active Factor Mid Cap ETF 7.5 65 10 6.8 +2.7
VETS Pacer Military Times Best Employers ETF 7.5 60 15 6.9 +2.7
TUSA First Trust Total US Market AlphaDEX ETF 7.5 70 5 6.8 +2.7
VTWG Vanguard Russell 2000 Growth Index Fund 7.4 15 60 1.0 -3.2
VBK Vanguard Small-Cap Growth Index Fund 7.1 7 68 2.8 -1.4
FXL First Trust Technology AlphaDEX Fund 7.1 61 14 3.5 -0.7
VUSE Vident Core US Equity Fund 7.1 48 27 8.5 +4.3
IFRA iShares U.S. Infrastructure ETF 7.0 40 35 6.3 +2.1
SFYX Sofi Next 500 ETF 6.9 0 75 6.4 +2.3
DVLU First Trust Dorsey Wright Momentum & Value ETF 6.8 60 15 6.1 +2.0
ONEO SPDR Russell 1000 Momentum Focus ETF 6.8 20 55 7.1 +3.0
MDY SPDR S&P Midcap 400 ETF Trust 6.8 23 52 6.7 +2.6
SPMD SPDR Portfolio Mid Cap ETF 6.8 5 70 6.9 +2.8
IJH iShares Core S&P Mid-Cap ETF 6.8 6 69 6.9 +2.8
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 6.7 17 58 5.4 +1.2
VB Vanguard Small-Cap ETF 6.7 5 70 6.0 +1.8
IVOO Vanguard S&P Mid-Cap 400 ETF 6.6 10 65 6.8 +2.7
VAMO Cambria Value & Momentum ETF 6.6 64 11 8.0 +3.8
XMMO Invesco S&P MidCap Momentum ETF 6.5 39 36 4.5 +0.3
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 6.4 17 58 7.1 +2.9
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 6.4 80 -5 5.8 +1.7
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 6.4 15 60 7.2 +3.1
FCPI Fidelity Stocks for Inflation ETF 6.4 29 46 7.2 +3.1
JHSC John Hancock Multifactor Small Cap ETF 6.4 50 25 6.4 +2.3
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 6.3 20 55 8.3 +4.1
SMDY Syntax Stratified MidCap ETF 6.3 30 45 7.0 +2.8
HTEC ROBO Global Healthcare Technology & Innovation ETF 6.3 68 7 0.6 -3.6
VALQ American Century STOXX U.S. Quality Value ETF 6.2 29 46 9.6 +5.5
VBR Vanguard Small Cap Value Index Fund 6.2 7 68 9.3 +5.1
SCHA Schwab U.S. Small-Cap ETF 6.2 4 71 5.3 +1.2
XSLV Invesco S&P SmallCap Low Volatility ETF 6.2 25 50 6.3 +2.2
CLRG IQ Chaikin U.S. Large Cap ETF 6.2 25 50 6.5 +2.4
FEX First Trust Large Cap Core AlphaDEX Fund 6.2 60 15 6.7 +2.6
FSMD Fidelity Small-Mid Factor ETF 6.2 29 46 7.6 +3.5
SLYG SPDR S&P 600 Small Cap Growth ETF 6.1 15 60 5.8 +1.6
IJT iShares S&P Small-Cap 600 Growth ETF 6.1 25 50 5.7 +1.5
SCHM Schwab U.S. Mid-Cap ETF 6.1 4 71 6.9 +2.8
EWMC Invesco S&P MidCap 400 Equal Weight ETF 6.1 40 35 7.6 +3.5
EZM WisdomTree U.S. MidCap Earnings Fund 6.1 38 37 10.2 +6.1
VIOG Vanguard S&P Small-Cap 600 Growth ETF 6.1 16 59 5.8 +1.6
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 6.1 60 15 3.5 -0.6
AIEQ AI Powered Equity ETF 6.0 87 -12 3.6 -0.6
JPUS JPMorgan Diversified Return U.S. Equity ETF 6.0 19 56 6.7 +2.5
IWR iShares Russell Midcap ETF 6.0 19 56 6.2 +2.0
BUYZ Franklin Disruptive Commerce ETF 5.9 50 25 -0.1 -4.2
RBUS Nationwide Risk-Based U.S. Equity ETF 5.9 30 45 5.3 +1.1
VIS Vanguard Industrials Index Fund 5.9 10 65 6.6 +2.5
IWM iShares Russell 2000 ETF 5.9 19 56 4.0 -0.1
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 5.8 35 40 5.6 +1.4
PBSM Invesco PureBeta MSCI USA Small Cap ETF 5.8 6 69 5.6 +1.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 5.8 24 51 8.2 +4.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 5.8 9 66 6.4 +2.2
FYC First Trust Small Cap Growth AlphaDEX Fund 5.8 70 5 2.8 -1.3
COWZ Pacer US Cash Cows 100 ETF 5.8 49 26 10.8 +6.7
RNLC Large Cap US Equity Select ETF 5.8 60 15 6.8 +2.7
JKH iShares Morningstar Mid-Cap Growth ETF 5.7 30 45 2.6 -1.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 5.7 24 51 6.5 +2.4
TPLC Timothy Plan US Large Cap Core ETF 5.7 52 23 5.9 +1.7
KNOW Direxion All Cap Insider Sentiment Shares 5.7 59 16 5.7 +1.6
USMV iShares Edge MSCI Min Vol USA ETF 5.7 15 60 6.0 +1.8
VTWO Vanguard Russell 2000 Index Fund 5.6 10 65 4.1 -0.1
BIBL Inspire ETF 5.6 35 40 5.0 +0.9
VOT Vanguard Mid-Cap Growth Index Fund 5.6 7 68 3.8 -0.3
AUSF Global X Adaptive U.S. Factor ETF 5.6 27 48 8.9 +4.8
RGI Invesco S&P 500 Equal Weight Industrials ETF 5.6 40 35 6.7 +2.6
BFOR Barron's 400 ETF 5.6 66 9 6.8 +2.6
ONEV SPDR Russell 1000 Low Volatility Focus ETF 5.5 20 55 7.6 +3.5
PAVE Global X U.S. Infrastructure Development ETF 5.5 47 28 6.5 +2.4
USMF WisdomTree U.S. Multifactor Fund 5.5 28 47 6.5 +2.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
EventShares U.S. Legislative Opportunities ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.1 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 CATEGORY
AVERAGE
1.52
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.